Texas Life Insurance exam Question &
Answers ( Latest 2025 )
Who is considered a field underwriter? - CORRECT
ANSWERS ✔✔An agent
When must insurable interest exist in life insurance? -
CORRECT ANSWERS ✔✔Application or issue date
If no receipt is issued at the time of application, a
statement of good health is usually required at the time
of? - CORRECT ANSWERS ✔✔Policy delivery
The Medical Information Bureau is?(MIB) - CORRECT
ANSWERS ✔✔a source of medical information to alert
insurers to adverse medical history
A substandard risk compared to a standard risk would
pay? - CORRECT ANSWERS ✔✔a higher premium
Which document describes specific information about
policy provisions and benefits? - CORRECT ANSWERS
✔✔Policy summary
Does not have an insurable interest? - CORRECT
ANSWERS ✔✔Insured's best friend
,Texas Life Insurance exam Question &
Answers ( Latest 2025 )
What is the main source of underwriting information used
by the company in the risk selection process? - CORRECT
ANSWERS ✔✔Application
An insured submits the full premium along with a
completed application, and the policy is issued 10 days
later. When does the coverage begin? - CORRECT
ANSWERS ✔✔On the date of application
What is the main responsibility of a company's
underwriting unit? - CORRECT ANSWERS ✔✔Risk
selection and classification
What best describes the USA PATRIOT Act with regards to
the insurance industry? - CORRECT ANSWERS ✔✔To
prevent terrorism activities through monitoring of
financial transactions
If the agent feels that could misrepresentation on the part
of the applicant for insurance, what must the agent do? -
CORRECT ANSWERS ✔✔Inform the insurance
comapny
, Texas Life Insurance exam Question &
Answers ( Latest 2025 )
Representations are statements made by the applicant
that are? - CORRECT ANSWERS ✔✔Considered true to
the best of the applicant's knowledge
If an agent fails to obtain an applicants signature on the
insurance application, the agent must? - CORRECT
ANSWERS ✔✔Return the application to the applicant
for signature
What includes information regarding a person's credit,
character, reputation, and habits? - CORRECT ANSWERS
✔✔Consumer report
When the insured purchased a new home, he wanted to
purchase a life insurance policy that would protect his
family against losing it should he die before the mortgage
was paid. Which of the following policies is best suitable
for that need? - CORRECT ANSWERS ✔✔Decreasing
term
An annually renewable term policy? - CORRECT
ANSWERS ✔✔Renews each year with an increased
premium
Answers ( Latest 2025 )
Who is considered a field underwriter? - CORRECT
ANSWERS ✔✔An agent
When must insurable interest exist in life insurance? -
CORRECT ANSWERS ✔✔Application or issue date
If no receipt is issued at the time of application, a
statement of good health is usually required at the time
of? - CORRECT ANSWERS ✔✔Policy delivery
The Medical Information Bureau is?(MIB) - CORRECT
ANSWERS ✔✔a source of medical information to alert
insurers to adverse medical history
A substandard risk compared to a standard risk would
pay? - CORRECT ANSWERS ✔✔a higher premium
Which document describes specific information about
policy provisions and benefits? - CORRECT ANSWERS
✔✔Policy summary
Does not have an insurable interest? - CORRECT
ANSWERS ✔✔Insured's best friend
,Texas Life Insurance exam Question &
Answers ( Latest 2025 )
What is the main source of underwriting information used
by the company in the risk selection process? - CORRECT
ANSWERS ✔✔Application
An insured submits the full premium along with a
completed application, and the policy is issued 10 days
later. When does the coverage begin? - CORRECT
ANSWERS ✔✔On the date of application
What is the main responsibility of a company's
underwriting unit? - CORRECT ANSWERS ✔✔Risk
selection and classification
What best describes the USA PATRIOT Act with regards to
the insurance industry? - CORRECT ANSWERS ✔✔To
prevent terrorism activities through monitoring of
financial transactions
If the agent feels that could misrepresentation on the part
of the applicant for insurance, what must the agent do? -
CORRECT ANSWERS ✔✔Inform the insurance
comapny
, Texas Life Insurance exam Question &
Answers ( Latest 2025 )
Representations are statements made by the applicant
that are? - CORRECT ANSWERS ✔✔Considered true to
the best of the applicant's knowledge
If an agent fails to obtain an applicants signature on the
insurance application, the agent must? - CORRECT
ANSWERS ✔✔Return the application to the applicant
for signature
What includes information regarding a person's credit,
character, reputation, and habits? - CORRECT ANSWERS
✔✔Consumer report
When the insured purchased a new home, he wanted to
purchase a life insurance policy that would protect his
family against losing it should he die before the mortgage
was paid. Which of the following policies is best suitable
for that need? - CORRECT ANSWERS ✔✔Decreasing
term
An annually renewable term policy? - CORRECT
ANSWERS ✔✔Renews each year with an increased
premium
